The acquisition follows as Caja 3 received €407m ($524m) in European funds as part of a €41bn bailout of Spain’s financial sector, as reported by Reuters.
The newly floated entity will manage 1,622 offices and a capital ratio of 10.22%, according to the lenders.
Caja 3 was established with the merger of three banks, which would now own 12.5% of its capital.
Earlier, Ibercaja, Liberbank and Caja 3 were close to a proposed merger, but the plan was abandoned after an audit result underlined that the group had a collective deficit gap of €2.1bn.
